adidas said it expects currency-neutral revenues to increase at a high-single-digit rate in FY26, representing around €2bn ($2.32bn) of growth in absolute terms.
Operating profit is projected to rise to around €2.3bn, despite what adidas expects will be an approximately €400m negative impact from US tariffs and unfavourable currency developments.
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Looking further ahead, adidas said it is well-positioned for additional market share gains.
In FY25, the adidas brand recorded 13% currency-neutral growth, supporting a record reported revenue figure of €24.8bn.
adidas said it delivered double-digit growth across all markets and channels over the year.
Gross margin improved by 0.8 percentage points to 51.6%. Operating profit rose 54% to €2.05bn while operating margin increased by 2.6 percentage points to 8.3%.
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By GlobalDataNet income from continuing operations climbed to €1.37bn, up by almost 70% year-on-year.
adidas proposed increasing its dividend by 40% to €2.80 per share. It said that, together with a share buyback programme, total cash returns could reach up to €1.5bn this year.
In Q4 2025, adidas reported 11% currency-neutral growth for the adidas brand, taking net sales to €6.1bn. The company said direct-to-consumer sales increased at a double-digit rate across all markets.
Gross margin in the quarter rose one percentage point to 50.8%, which adidas linked to a continued focus on full-price selling amid a promotional marketplace and despite external headwinds. Operating profit more than doubled to €164m.
Inventories stood at €5.8bn, which adidas said had a healthy composition to support continued growth.
